I Made $156,000 On Kickstarter - How I Did It

TL;DR

This video provides a step-by-step guide to successfully funding and marketing your idea on Kickstarter, emphasizing the importance of choosing the right product, collaborating with others, and utilizing platforms like Kickstarter and Backer Kit.

Transcript

what's up frugal people my name is Andre Jick and I hope you had a wonderful 2018 but first story time 2018 brought us fortnight and League of Legends where they took over the world we lost the greatest battle of our lifetime which was the Battle of the internet and of course Avengers set box office records we lost Stephen Hawking unfortunately but... Read More

Key Insights

• 💦 Working for oneself and having time for personal pursuits is a goal many people strive for.
• 📶 Collaboration and partnerships with individuals who complement one's strengths are essential for success.
• 🗯️ Choosing the right crowdfunding platform, like Kickstarter or IndieGoGo, can significantly impact the outcomes of a campaign.
• 😘 Setting a lower campaign goal on Kickstarter can lead to increased exposure and organic views.
• 🇨🇷 Pricing a product should consider production costs and profit margin.
• ❓ Hiring professional designers can enhance the appeal of the product.
• 🐕‍🦺 A well-executed campaign can result in small profit margins even after partnering with a shipping service like Backer Kit.

Questions & Answers

Q: How can I ensure the success of my Kickstarter campaign?

To ensure success, it is essential to choose a product or idea that appeals to a wide audience and combines multiple interest groups. Collaborating with others and utilizing platforms like Kickstarter can also increase the chances of success.

Q: Why is it important to set a lower goal on Kickstarter?

Setting a lower goal than the actual funding needed allows for quicker funding, which triggers Kickstarter's algorithms and increases organic views and exposure. However, it is crucial to make sure that the goal is still sufficient to complete the project to avoid public embarrassment.

Q: How should I determine the pricing of my product?

It is recommended to have a profit margin of about three times the production cost. For example, if the product costs $10 to produce, it should be sold for around $30 to ensure a healthy profit margin.

Q: How can I design an appealing product if I am not a designer?

Hiring a professional graphic designer through platforms like Dribbble can ensure high-quality design work. It is important to have a budget for hiring designers and to showcase past projects to get potential partners excited about the idea.

Summary & Key Takeaways

• The video starts with the narrator sharing his personal journey of quitting his job to work for himself and highlighting the need for time and freedom in one's life.

• The narrator introduces the concept of Carter Street, a platform that combines cinematography, cool designs, and financing, and explains their mission and goals.

• The video breaks down the steps to Kickstarter success, including choosing the right product, collaborating with others, utilizing Kickstarter and Backer Kit, and ensuring a smooth final delivery process.